Another positive news from Altimeter

[Mountainbiker]

Altimeter, a hedge fund, becoming the largest share holder outside of management is moving the stock today. Technicals are looking good. Longs are being rewarded. Patience is the key here.

[Spacchiusu]

Great news, but I'm confused at the number of shares outstanding? They obviously are not invested in the ADR's correct?

[Bondguy8]

Altimeter, a hedge fund, becoming the largest share holder outside of management is moving the stock today. Technicals are looking good. Longs are being rewarded. Patience is the key here.

Anyone know how Altimeter acculated the right to aquire 7.4% of the shares?  I looked at the option market and dont see the open interest big enough for their size. 7.5% (~2.25mm shares) would be 22,000 options.  The other thought is that they own converts.

Anyone familiar with 13G filings and what would constitute this right to acquire?  Do the call options strike or the strike of the convert have to be in the money for a filing like this to occur?

[kshen]

Could be a call spread. if they own multiple call spreads across several expiration dates.

[pwalk]

personally I think the stock is moving today because rumor is making the rounds that the independent audit results will be announced this week. Just my guess...........

[Mountainbiker]

Most likely  the call spreads....Chinese New Year is coming, Jan 31 is the New Year's day. I think we will get some more news before next Friday, otherwise, we might have to wait another two weeks or so. That will take us into mid Feb. I am ok with that!